MPM Capital is a biotechnology investment firm, recently raised US$850 million for its Oncology Impact Fund 2, meant to further research by companies trying to come up with cures for cancer.
Out of this total, the bulk of it, some US$650 million, were from clients of UBS global wealth management.
The amount raised for OIF2 makes it the largest dedicated impact investment fund in biotech history.
The fund will be overseen by MPM Capital’s BioImpact Capital team, and will allocate 80% of the money to private companies, with the remaining 20% to be invested in listed entities.
Combined with the UBS Oncology Impact Fund (OIF 1), which closed in 2016, UBS clients have invested more than US$1 billion to seek out cancer treatments.
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Dr Ansbert Gadicke, managing partner of BioImpact Capital and MPM managing director, says that OIF 2 will build on the “strong performance” of OIF1 and focus on oncology as well as cell, gene, and RNA therapies.
Besides cancer treatment, UBS has identified other themes for impact investing such as climate change and food resilience, green technologies, healthcare, education, diversity and inclusion.
“For many years, UBS has been at the forefront of sustainable finance and it is our goal to continue to mainstream sustainable and impact investments,” says UBS group CEO Ralph Hamers.
“The OIF 2 is a great example of how UBS is making further progress on this objective, working with an expert partner to connect our clients with investible solutions that have the potential to improve the health and lives of many,” he adds.
“With more than USD 1 billion raised so far, this is what reimagining the power of investing and connecting people for a better world can look like,” says Mark Haefele, chief investment officer at UBS Global Wealth Management.
Photo by National Cancer Institute on Unsplash
